Readers of this newsletter are likely aware that Congress has been debating market structure legislation for the past few months, but the scope of crypto policy discussions extends far beyond this single issue, encompassing topics such as taxes, decentralized finance regulations, the upcoming midterm election, and state-level approaches. CoinDesk's Consensus Miami conference will delve into each of these topics in-depth next month.
This newsletter, State of Crypto, explores the intersection of cryptocurrency and government; click here to sign up for future editions. Recent months have seen significant policy changes related to digital assets, including the signing of the first major crypto-specific legislation by U.S. President Donald Trump and a shift in the approach of regulators to enforcement actions.
The crypto industry has made substantial progress, with ongoing debates about market structure bills, the treatment of stablecoin yield, and the potential for legislation. Despite current challenges, including stagnant crypto prices and time constraints for passing market structure legislation, the industry is seeking tax reform, a de minimis exemption for crypto transactions, and is looking ahead to the November elections.
The Consensus Miami conference will bring together leading lawmakers, regulators, and industry experts to discuss these issues, including Senators Kirsten Gillibrand and Ashley Moody, CFTC Chairman Mike Selig, and White House point man on crypto Patrick Witt. The conference will feature a Policy & Regulation Summit, exploring key policy and regulatory issues, such as decentralized finance compliance with anti-money laundering rules, taxes in the 1099-DA era, and the Clarity Act. Sessions will also focus on the 2026 midterm election and the crypto industry's engagement with it. The summit will conclude with a debate on prediction markets, discussing whether they constitute gambling or a novel financial instrument, and who should regulate these products.